Chinese President Xi Jinping inaugurated the Chancay megaport in Peru, emphasizing its role in the Belt and Road Initiative, and projecting significant economic benefits for Peru.
Xi stated that the Chancay project would generate an estimated $4.5 billion in annual revenues and create over 8,000 jobs, markedly improving Peru's trade logistics.
The port, funded by Chinese shipping giant Cosco, aims to streamline South America-Asia trade while increasing China's influence in the resource-rich Latin American market.
Peruvian President Dina Boluarte expressed gratitude for China's investment, recognizing the crucial role it plays in bolstering Peru’s economy and fostering job creation.
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